Senator Bernie Sanders has come closer than anyone on the Presidential campaign trail in defining what Wall Street actually does. Sanders has repeatedly stated at his rallies that “the business model of Wall Street is fraud.” That analysis is correct but abbreviated. Sanders needs to go further. It’s not just Wall Street’s business model that […]
Here We Go: Fed “Finds” That Negative Rates Would Have Helped the Recovery
Several days ago, the ECB sparked the ire of pretty much anyone with a working frontal lobe when it made the indefensible claim that, drumroll, QE had helped reduce inequality. ECB asset purchases have reduced inequality in the eurozone, our research shows. They have especially benefited low-income households, which suffer the most from unemployment. That’s […]
Earth’s Richest 26 Control Same as World’s Poorest 50% – Report…
Released ahead of the annual winter World Economic Forum in Davos, Switzerland — a yearly gathering of some of the planet’s richest and most influential — the frightening new report from UK-based Oxfam (Oxford Committee for Famine Relief), reveals a dire gap between those who have all too much and those who have little to nothing. Founded in 1942 to, as the name implies, counter global famine, […]
The Richest 1 Percent Now Owns More of the Country’s Wealth Than at Any Time in Past 50 Years…
The wealthiest 1 percent of American households own 40 percent of the country’s wealth, according to a new paper by economist Edward N. Wolff. That share is higher than it has been at any point since at least 1962, according to Wolff’s data, which comes from the federal Survey of Consumer Finances. From 2013, the […]